Guangming Meat Industry's controlling shareholder Yimin Food Group plans to reduce holdings of no more than 18.66 million shares, representing 1.99% of total outstanding shares.

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Shanghai Bright Food Meat Group Co., Ltd. (hereinafter referred to as “Bright Meat”) announced on March 18, 2026, that its controlling shareholder, Shanghai Yimin Food Factory (Group) Co., Ltd. (hereinafter referred to as “Yimin Food Group”), plans to reduce its holdings through block trades due to strategic development needs, with a reduction of no more than 18.6608 million shares, accounting for 1.99% of the company’s total share capital.

Subject of the reduction and shareholding status

The announcement shows that as of the disclosure date, Yimin Food Group held 298 million unrestricted circulating shares of Bright Meat, accounting for 31.82% of the total share capital. As the controlling shareholder and a shareholder holding more than 5%, the source of Yimin Food Group’s shares for this reduction is obtained through agreement transfer.

Additionally, Yimin Food Group has common action partners. Its common action partner, Bright Food (Group) Co., Ltd., holds 55.9789 million shares of Bright Meat, accounting for 5.97%. Together, they hold 354.6489 million shares, accounting for 37.79% of the total share capital. Notably, Bright Food (Group) Co., Ltd., as the actual controller of the company, will not participate in this reduction plan.

Details of the reduction plan

According to the announcement, Yimin Food Group’s reduction plan will be implemented within three months after the disclosure, starting 15 trading days after the announcement, i.e., from April 9, 2026, to July 8, 2026. The reduction method will be through block trades, with a planned reduction of no more than 18.6608 million shares, representing no more than 1.99% of the company’s total share capital. The price will be determined based on the market price at the time of implementation and the reduction method.

The announcement also states that if during the reduction period, the company implements stock dividends, capital reserve to share capital conversions, rights issues, cancellations, or other events that change the total share capital, the number of shares to be reduced will be adjusted accordingly based on the latest total share capital and the reduction plan ratio.

Risk warning

Bright Meat reminds that there are uncertainties in the implementation of this reduction plan. Yimin Food Group will decide whether and how to implement the reduction based on its own capital arrangements, market conditions, the company’s stock price, regulatory policies, and other factors. The timing, price, and quantity of the reduction are uncertain.

However, the announcement clearly states that this reduction plan will not lead to a change in the company’s control, nor will it have a significant impact on the company’s governance structure, equity structure, or ongoing operations. Yimin Food Group will strictly comply with relevant laws and regulations and cooperate with the company in fulfilling information disclosure obligations.

Bright Meat’s board of directors stated that they will continue to monitor the progress of this reduction plan and disclose relevant information in a timely manner. Investors are advised to invest rationally and be aware of risks.

Disclaimer: The market carries risks; investment should be cautious. This article is automatically published by an AI large model based on third-party databases and does not represent Sina Finance’s views. All information in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for accuracy. If you have questions, contact biz@staff.sina.com.cn.

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